Flooring and textiles group Beaulieu International Group has sold its upholstery fabric operation Tessutica.
The move is part of its efforts to focus on core brands and sectors to lift profits. In 2024, Tessutica contributed €17m to BIG’s €2bn turnover.
‘The business strategy of Tessutica is to focus on market leadership in the premium market segment, which demands continuous investment in infrastructure and product development to secure long-term returns. However, this ongoing investment risks diverting essential resources away from our core high-growth areas, where we see greater potential to establish market leadership,’ says BIG.
‘Due to the limited strategic fit within our broader portfolio, we believe Tessutica stands a better chance to succeed under ownership that is more strategically aligned.’
Tessutica has been sold to GH Private Equity, part of H Capital Ventures Group, which specialises in the acquisition of small to medium sized businesses in challenging situations that require financial and operational turnaround, focusing on non-core businesses and underperforming divisions of large multinational companies.
Following the transfer, all 132 employees – 115 in Romania and 17 in Belgium – will remain with the company under the same employment terms and conditions and operations will continue as usual at the sites in Romania and Belgium.
Financial terms were not disclosed.
